The Real Estate Special Compensation Fund provides financial protection for members of the public who have lost money because of the actions of a real estate licensee. If you have entrusted money to a real estate licensee or an unlicensed individual at a real estate brokerage, and your money has been:

misappropriated or wrongfully converted,

intentionally not paid over or accounted for, or

obtained by fraud,

you may wish to file a claim for compensation from the Special Compensation Fund.

Click on the topics below to learn more about the Special Compensation Fund.

The Real Estate Compensation Fund Corporation (RECFC) is responsible for overseeing the Special Compensation Fund. The RECFC’s Board of Directors consists of three directors appointed by the Real Estate Council of British Columbia and two directors appointed by the British Columbia Real Estate Association.

The Council is responsible for administering claims from consumers to the fund.

If you are seeking compensation through the courts, you must provide written notice of the court proceeding to the Council and to the Real Estate Compensation Fund Corporation (RECFC). The RECFC has the option of being a party to the court proceeding.

If the court makes a finding on the evidence of a compensable loss and assesses an amount, that finding is binding on the Compensation Committee and the RECFC in the same manner as a finding of a compensable loss by the Compensation Committee.

If you have questions about a Special Compensation Fund claim, or want to know more about the process of filing a claim, contact the Council at 604.683.9664, toll-free 1.877.683.9664 or email info@recbc.ca.

Find more information about the Real Estate Compensation Fund Corporation in its annual reports.